Vest Financial LLC Has $37.35 Million Stake in Genuine Parts (NYSE:GPC)

Vest Financial LLC lifted its holdings in shares of Genuine Parts (NYSE:GPC) by 3.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 269,993 shares of the specialty retailer’s stock after purchasing an additional 8,472 shares during the period. Vest Financial LLC’s holdings in Genuine Parts were worth $37,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Assetmark Inc. increased its position in Genuine Parts by 109.1% in the 4th quarter. Assetmark Inc. now owns 184 shares of the specialty retailer’s stock valued at $25,000 after acquiring an additional 96 shares in the last quarter. WD Rutherford LLC acquired a new stake in shares of Genuine Parts in the first quarter valued at approximately $26,000. Union Savings Bank raised its position in Genuine Parts by 100.0% in the 1st quarter. Union Savings Bank now owns 200 shares of the specialty retailer’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Thompson Investment Management Inc. acquired a new position in Genuine Parts during the 1st quarter worth $35,000. Finally, Stephens Consulting LLC boosted its position in Genuine Parts by 740.7% in the 1st quarter. Stephens Consulting LLC now owns 227 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. 78.83% of the stock is currently owned by institutional investors and hedge funds.

Genuine Parts Stock Down 0.5 %

Shares of Genuine Parts stock opened at $135.05 on Thursday. Genuine Parts has a 1 year low of $126.35 and a 1 year high of $164.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.12 and a quick ratio of 0.54. The company has a market capitalization of $18.81 billion, a P/E ratio of 15.06 and a beta of 0.90. The business has a 50-day moving average of $139.23 and a two-hundred day moving average of $145.90.

Genuine Parts (NYSE:GPC) last announced its earnings results on Tuesday, July 23rd. The specialty retailer reported $2.44 EPS for the quarter, missing the consensus estimate of $2.59 by ($0.15). The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $6.03 billion. Genuine Parts had a return on equity of 30.03% and a net margin of 5.24%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the business posted $2.44 earnings per share. As a group, equities analysts predict that Genuine Parts will post 9.37 EPS for the current year.

Genuine Parts Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $1.00 dividend. The ex-dividend date is Friday, September 6th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 2.96%. Genuine Parts’s dividend payout ratio (DPR) is 44.59%.

Analyst Upgrades and Downgrades

GPC has been the topic of several research reports. Evercore ISI cut their price target on Genuine Parts from $150.00 to $148.00 and set an “in-line” rating on the stock in a research note on Wednesday, July 24th. Truist Financial reaffirmed a “buy” rating and issued a $164.00 target price on shares of Genuine Parts in a research note on Wednesday, August 28th. The Goldman Sachs Group lowered their price target on shares of Genuine Parts from $166.00 to $162.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. UBS Group cut their price objective on shares of Genuine Parts from $165.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 3rd. Finally, Wedbush lowered their target price on shares of Genuine Parts from $170.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Genuine Parts currently has a consensus rating of “Hold” and a consensus price target of $161.14.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.